Italy's debt tensions have been
reduced after a budget deal with the EU, Bank of Italy Governor
Ignazio Visco said after the Group of Seven meeting in Chantilly
Thursday.
"Particular tension on Italy does not exist, indeed, on the
contrary, it is viewed with favour that the decisions that were
made, also at the government level, and the discussions with the
Commission, have permitted the start of a process of reduction
in tension as has been measured by the debt servicing," he said.
"This is fundamental".
The government recently passed a 7.6 billion euros
mini-budget to avert an EU infringement procedure for breaking
the debt rule.
Italy's debt servicing costs, as gauged by the bond spread,
have fallen steadily since the EU deal.
Italy has the second highest debt in the eurozone after
Greece, at more than 130% of GDP.
Visco said: "The result of the last few weeks is certainly
very favourable and this is viewed well by all Italy's
partners".
ALL RIGHTS RESERVED © Copyright ANSA
